Appleby is pleased to be acting as Cayman Islands counsel to UY Scuti Acquisition Corp. ("UYSC"), a special purpose acquisition company incorporated in the Cayman Islands, in its proposed de-SPAC business combination with Isdera Group Limited ("Isdera Group"). A definitive agreement and plan of merger was signed and announced on 18 July 2025. Upon successful completion of the proposed merger transaction, the combined entity, Isdera Inc., is expected to be publicly listed on NASDAQ under a new ticker symbol.
Isdera Group is an industrial automotive enterprise headquartered in China and backed by robust design and research and development ("R&D") capabilities. The Company entered the ultra-luxury supercar industry by acquiring the iconic German marque ISDERA, renowned for its legacy of handcrafted performance vehicles. ISDERA is undergoing a strategic transformation aiming at revitalising the brand by expanding into both combustion-engine and electric supercar segments, supported by in-house R&D centres.
This complex cross-jurisdictional and high-profile transaction is led by Shanghai Partner and Hong Kong Registered Foreign Lawyer Kitty Chan, with support from Hong Kong Legal Manager Kelly Tang.
Commenting on the matter Kitty said, "This transaction reflects our continued involvement in significant SPAC and de-SPAC matters in the region. Clients regularly turn to Appleby for support on these deals, particularly due to our experience in cross-border M&A and our ability to navigate complex, multi-jurisdictional issues."
With a broad global footprint, strong working relationships with local regulators and deep transactional experience, our M&A team is well-positioned to advise clients on the offshore aspect of a wide range of M&A activities in the Asia-Pacific region.